Welcome to the World of Ribbit (Nov 2014)
Greg Simon (My Co-Founder’s first for Ribbit.me): As I settled in to write this, it occurred to me that, to a vast majority of consumers, the concept of a purely digital currency is completely foreign. On the other hand, there is a small, but growing, community of Bitcoin technology and digital currency enthusiasts who have been involved for a while, but who may not understand the underpinnings of how the industry is evolving and how Ribbit.me™ is different from anything out there.
What exactly is “digital currency?” Well, Bitcoin currently leads the pack. It is a currency based on blockchain technology and meets all the criteria of a strong currency. It is different from traditional government (or fiat) currencies in several ways. One significant difference between fiat currencies and digital currencies are that they are denationalized. We are talking about a free market money alternative in a money industry driven by competition. Blockchain technology creates greater transparency, reducing and perhaps even eliminating manipulation, theft or fraud.
This is the ingenuity of Ribbit.me. The Ribbit.me world brings currency utility to all digital currencies beyond Bitcoin. When you buy and sell in our marketplace, Marketplace.Life™, you earn RibbitRewards™ to collect or hold and use later. The Ribbit.me marketplace sounds similar to the concept of Amazon™ or eBay™, but with some key differences: Marketplace.life will have the capacity to accept more fiat and digital currencies than any other marketplace in the world; it operates using blockchain technology; and finally, a percentage of all RibbitRewards created goes to charity. Giving back to the community is a very important part of the Ribbit.me experience.
A former investment banker by education and trade with an interest in economics, I am also a world traveler, seeking knowledge and friendship wherever the road may lead me. I have visited over forty countries in the last two years — from Bhutan to Turkey to Brazil. I strongly believe that blockchain technology is bringing a paradigm shift toward greater innovation, leading to real economic growth and greater transparency with a more compassionate society.
I am a founding member of the Nicaragua Bitcoin Foundation and the Bitcoin Association. I met my Ribbit.me founding partners in Nicaragua. Our project got its name from a little frog we encountered one day as we brainstormed for an easier way for people to get their hands on digital currencies, create a place where all digital currencies have utility, and tie in a loyalty program to jumpstart the idea.
Bill Gates, founder of Microsoft™, recently threw his weight behind the future of digital currencies. “It is better than hard currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”
Virgin Atlantic™ CEO Richard Branson even accepts payment for his new venture, Virgin Intergalactic™, in digital currency. “There will be other currencies like it that may be even better, but in the meantime, there is a big industry around Bitcoin,” he said. “It feels strange to think of a world without cash, no more coins or notes to find down the back of the sofa, but it appears that’s the way things are. Through making investments in the likes of Square™ and Blockchain™, I hope to be part of what could be a democratization that helps to put more power and control back into the hands of the everyday citizen.”
Creating Ribbit.me has been an incredible journey for the team and me — from conception through all of the sweat equity investment. The airdrop campaigns are finally running and RibbitRewards are here to stay. Sure, as with any start-up with this level of complexity and sophistication, we’ve had some delays. It would be silly for us to expect otherwise, but our commitment to the final product is of utmost importance, and I have full confidence in the capability of our amazing team.
This year has been one for the record books and is proof positive that a great idea doesn’t become successful because it’s great. It’s successful because of the team of people who believe.
Never give up, never quit! Always believe it can be!
Blog post by @gregorylsimon